Wills
Your Will
Your Will is one of the most important documents you will prepare in your life. It decides where your property and assets go after you pass away.
A well thought out Will gives your loved ones the opportunity for a clear and smooth administration of your estate.
No one wants to leave behind a mess that ends up causing disagreement or argument for their relatives and loved ones.
Why make a Will?
If you do not have a Will then you will not be able to pass on specific items to loved ones, e.g. jewellery, or you may want to keep a house in the family and, if there is no Will, it is very unlikely you will be able to do that.
If you do not have a Will, you will have very little control over where your property goes.
A carefully prepared Will will ensure that your loved ones are looked after at a time when they are very likely to be suffering from grief.
What should you consider when making your Will?
You need to make a careful decision as to who you would like to be executor of your estate. The executor will be given the important job of doing whatever is necessary to gather your assets and distribute them in accordance with the wishes set out in your Will.
You will need to think carefully about who you want to be executor and you need to consider who will be a default executor in the event that your preferred executor cannot undertake this task either by reason of them passing away or their ill health.
We can help you prepare a Will that is tailored to your circumstances.
When considering your Will, you will need to take into account all of your assets, not just those in your sole name but those assets held jointly, including those that may be held in a company or trust. Our experienced Wills & Estates lawyer can help you prepare your Will with a minimum of fuss.
Reviewing and renewing your Will
Changes are constant in life. As your personal circumstances change you will need to review your Will. The birth of children, the purchase or sale of real estate, the death of a loved one who you might have had as a beneficiary or executor are times when you should review and perhaps renew your Will. Getting married, when you separate or divorce all trigger legal consequences that can have an effect on your Will and you should make enquiries about what those consequences are.
What if I die without a Will?
If you die without a Will, a valid Will or a complete Will the law deems that you have died intestate. The Supreme Court will appoint an administrator to manage your estate, which can potentially be costly and your property and belongings will not necessarily go to the people who you would like them to go to. A person appointed as administrator will be obliged to distribute the assets in accordance with South Australian Intestacy laws that dictate where your property goes when you die without a Will.
You should want to control what happens to your estate after you pass away, not simply let it happen to you as would be the case if you die without a Will.
Our experienced Wills & Estates lawyer can advise on all aspects of Wills and Estate Planning, including:
- Testamentary Trusts
- Guardianship Clauses as to who will be the guardian of your infant children if you pass away before they attain the age of 18 years
- Maintenance and provision for children under the age of 18 years
What else should I consider when making my Will?
When you are considering a Will, you should think about making an Enduring Power of Attorney and an Advance Care Directive. An Enduring Power of Attorney is a legal document which allows you to appoint a person(s) of your own choice to manage your property and financial affairs in circumstances where you are unable to do so due to illness, ill health or injuries sustained in an accident.
An Advance Care Directive is a legal document which allows you to appoint a person to make decisions on your behalf in relation to your future healthcare and living arrangements in the event that you no longer have capacity to make those decisions yourself by reason of illness, ill health or even injuries from an accident.
In Advance Care Directives, the person you nominate is called a substitute decision-maker.
Will my home-made Will do?
A home-made Will is certainly cheap but if it is not clear or is incorrectly prepared it can result in much greater legal costs and leave your loved ones a headache in terms of administration of the estate.
How much does it cost?
Will prices
- Standard Will single $440.00
- Standard Will couple $616.00
Power of Attorney prices
- Power of Attorney single $165.00
- Power of Attorney couple $275.00
10% discount applies to Aged Pensioners
All prices inclusive of GST
